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Explore Cambodia’s impressive economic growth projections for 2023 and beyond, with a focus on increasing GDP growth rates driven by manufacturing, services, and agriculture sectors. Learn about the opportunities for investors in this emerging regional powerhouse. As we step into 2023, Cambodia’s economic outlook has never been more promising. The World Bank (WB) recently revised…
Cambodia is showcasing its agricultural and industrial products under the “One Village, One Product” program at the Morodok Techo Stadium during the 32nd Southeast Asian Games (SEA Games). More than 200 local products are being displayed at stalls inside the stadium complex, according to Suong Noy, Secretary-General of the national committee for promoting the program.…
According to Statista.com, Cambodia’s e-commerce market is on a steady growth trajectory, with revenue projections reaching US$1,097.00 million in 2023. This growth is set to continue at an annual rate of 12.83% (CAGR 2023-2027), resulting in a projected market volume of US$1,778.00 million by 2027. In comparison, China is expected to generate the most revenue…
In Cambodia, the entrepreneurial spirit of women has the potential to power the country towards a brighter, more prosperous future. With the majority of micro, small, and medium enterprises (MSMEs) owned by women, there is a wealth of untapped potential that, if nurtured and supported, can drive significant economic growth and social progress. However, there…
The Law of Taxation in Cambodia serves as the primary framework for tax regulation, outlining the tax responsibilities of individuals and businesses. The General Department of Taxation (GDT) oversees the collection and administration of taxes, with taxpayers required to submit and pay their taxes on a monthly and annual basis. In Cambodia, businesses are subject…
Euronet Worldwide, Inc.’s Ria Money Transfer business segment has partnered with ACLEDA Bank Plc, a leading retail bank in Cambodia, to expand its network and improve cross-border money transfer services in the country. Through the partnership, Ria’s global money transfer services will now be available at over 4,300 locations in Cambodia, including ACLEDA’s 300 cash…
The Memorandum of Understanding (MOU) was signed on February 8, 2023, in Phnom Penh by Souliyo Vongdala and Phonepasong Mixab, the CEO and Co-Founders of LOCA, and Soreasmey Ke Bin, the CEO of Confluences. Confluences will guide LOCA’s first steps in Cambodia as part of this strategic cooperation. The Kingdom is LOCA’s first market outside…
Pigmy collection is a daily deposit plan that was started by Syndicate Bank, India, in 1928. This is a savings account where the customer can deposit a portion of his earnings every day. The amount deposited can be withdrawn later, once it is due. The Daily Deposit Scheme is a monetary deposit scheme designed to…
As of December 12th, more than 20,000 businesses with a total investment capital of $5.70 billion had been registered with the government’s single platform, the Online Business Registration System. According to data from the Online Business Registration System inside the Ministry of Economy and Finance, 20,189 businesses with a combined $5.70 billion in capital have…
52 fixed asset investment projects totaling over $460 million were approved by the Council for the Development of Cambodia (CDC) in the third quarter of 2022, an increase of 10.6% over the same time the previous year. A recent report from the Ministry of Economy and Finance states that the investment projects that were approved…
According to a report from the General Department of Customs and Excise (GDCE), Cambodia exported $7 billion in commodities to the US market in the first nine months of this year, a 29.4 percent rise year on year. Based on the report, the US remained the top importer of Cambodian products, followed by Vietnam, China,…
As of July, of this year, there were 1,947 factories registered in Cambodia, producing everything from clothing to electronic devices, employing more than 1 million people, of them some 76 percent are women. The statistics were presented by the Ministry of Industry, Science, Technology, and Innovation at a news conference held recently by the Royal Government…
Rural shoppers are unfamiliar with shopping without touch and feel, hence the first step for Entrepreneurs interested in tapping into rural E-Commerce is to customize applications with local content. Because 90% of the population does not understand English. Developing content in Khmer across many contact points, such as mobile apps and customer support, is crucial for…
